This hypothesis flawed because RSI does not back this. If anything the RSI says there is room for the upside.
The lines drawn are your own objectivity. The fib circles dont translate to your pattern. fib circles give you the main fib levels... nothing more.
mate76
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@ssari, I don't think that RSI 70 gives much more room for the upside. Thank you for your comment.
ssari
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@mate76, no problem. Using other tools is also beneficial such as fib.pitchfork gives trends. I had this some time back. Hence why I believe the trend is up.
mate76
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@ssari, OK, I can only wish you good luck. Time will tell :)
ssari
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@mate76, Yep, we can only try ... no-one can claim they right until its done. .Wishing you luck as well..